Security in today’s world is one of the key concerns for the corporations today. It includes both the data (in different forms) and physical instruments / devises. How secure is my data these days as most of the data is stored at remote locations, which was not the situation few years ago. Now with the advancement of technology, companies are looking for better security to their information.
Major concerns are:
• How can the data be protected?
• How trusted is the security system?
• Privacy concerns
Security should be provided when the data is in motion, at rest and while transmitting. Although all companies have their own network firewall and security products, they find it difficult to identify the breaches as there is a huge amount of data that needs to be processed. This is where analytics comes into picture. It can identify similarities between the past suspicious events with the current data and alert the security systems regarding the breaches. This way it helps to track and protect the security breaches in real time by taking appropriate steps to prevent the security breach.
Analytics acts as a new protective shield for the security systems. Analytics can be used in checking suspicious trading patterns in stock markets. This helps in preventing the frauds in stocks trading as they can make huge money out of it. This way analytics helps in determining abnormal trading patterns and prevent occurrence of fraud on real time basis.
Customer behavioral pattern:
Key concern for any company is about the high valued information if breached and falls in the hands of competitors, can cause catastrophe to the company. Analytics helps in incident detection and response to such breaches. Analytics helps in preventing the occurrence of fraud accounts by analyzing the customer behavior on different platforms. This way we can prevent the existence of fraud accounts and also reduces the chances of breaches by false positives i.e. showing the presence of threat even though the threat doesn’t exist.
Analytics can be helpful in analyzing the behavior of users while making payments and prevent them from making fraudulent purchases. It is difficult for an employee to analyze such massive amounts of data and develop possible insights. Analytics helps in constantly analyzing huge amount of data in real time and provides with fast and factual insights about possible threats.
Analytics can also be used in video surveillance system in detecting the faces of frauds, helpful in analyzing any suspicious patterns in the behavior of the people in huge numbers during large events and helps in taking preventive measures. By having predictive capabilities built in analytics that helps in improving the security systems of the companies. This way analytics help in highlighting the anomalies and alert the security members. Video analytics is also being used in security systems to prevent fraud these days.
Analytics is playing a crucial role to detect potential threat using security systems.